Industry Report Card: Australian And N.Z. Consumer-Related Corporates Maintain Sound Credit Quality, Despite Difficult Conditions Apr 08

  • ID: 2042568
  • April 2008
  • Region: Australia
  • Standard & Poors
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  • Air New Zealand Ltd.
  • AWB Harvest Finance Ltd.
  • Crown Resorts Ltd.
  • Lion Nathan Pty Ltd.
  • Queensland Sugar Ltd.
  • Tabcorp Holdings Ltd.
  • MORE

Rated consumer-related corporates across Australia and New Zealand maintained relatively sound credit quality in the past six months, despite difficult trading conditions and the prospect of a weakening economic environment. Unlike companies in some other sectors, the region's consumer-related corporates have so far managed to withstand the credit-market turmoil. Indeed, most entities have strong liquidity or are well-placed to satisfy upcoming debt maturities and capital-spending requirements. Credit quality is likely to remain relatively stable across the region's 19 rated consumer-related corporates in 2008. The distribution of rating outlooks supports this view; 14 of these entities have stable outlooks, with four on negative and one on positive. Nevertheless, a modestly negative tone is likely to persist. Notable themes or recent developments...

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- Telstra Corp. Ltd.
- Ansell Ltd.
- Qantas Airways Ltd.
- Spark New Zealand Ltd.
- Coca-Cola Amatil Ltd.
- Foster's Group Ltd.
- Lion Nathan Pty Ltd.
- Air New Zealand Ltd.
- Tabcorp Holdings Ltd.
- PMP Ltd.
- Fairfax Media Ltd.
- Woolworths Ltd.
- Wesfarmers Ltd.
- AWB Ltd.
- SingTel Optus Pty Ltd.
- Queensland Sugar Ltd.
- Fonterra Co-operative Group Ltd.
- Aristocrat Leisure Ltd.
- AWB Harvest Finance Ltd.
- Crown Resorts Ltd.

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown




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